- Business
- Arrow DWA Tactical: International ETF (DWCR) is an exchange-traded fund that seeks long-term capital appreciation by tracking the Dorsey Wright Country and Stock Momentum Index before fees and expenses. The index employs Dorsey, Wright & Associates' proprietary relative strength methodology to select the 10 strongest performing countries from a universe of 41 developed and emerging markets; within each selected country, it identifies 10 stocks exhibiting powerful relative strength characteristics. The portfolio consists of equally weighted holdings, typically including country-specific ETFs such as iShares MSCI Israel ETF (EIS), iShares MSCI South Africa ETF (EZA), iShares MSCI Taiwan ETF (EWT), iShares MSCI Spain ETF (EWP), and iShares MSCI Italy ETF (EWI), with sector exposures spanning financial services, technology, industrials, consumer cyclical, basic materials, utilities, communication services, energy, healthcare, consumer defensive, and real estate; the fund rebalances and reconstitutes quarterly to maintain momentum focus.
Launched on December 28, 2017, and issued by Arrow Investments Trust under the management of Arrow Investment Advisors LLC, headquartered in Laurel, Maryland, the ETF operates in the foreign large blend category with primary exposure to global ex-U.S. equities across diversified sectors and market capitalizations. Arrow Investment Advisors, founded in 2006, serves as the investment adviser and applies Dorsey Wright's rules-based discipline across its tactical ETF offerings. The fund targets investors seeking momentum-driven international equity exposure, with assets under management of approximately $6.5 million, an expense ratio of 1.53%, and a dividend yield around 1.96%.
In recent developments, the fund underwent a name change from Arrow DWA Country Rotation ETF to Arrow DWA Tactical: International ETF, reflecting an evolution in branding while preserving its core strategy. In September 2022, Arrow Funds transferred the exchange listing of DWCR, alongside the Arrow DWA Tactical: Macro ETF (DWAT), from Nasdaq to CBOE Global Markets, Inc., enhancing trading liquidity without impacting shareholders. The ETF continues to maintain its tactical momentum approach amid ongoing quarterly rotations, with recent country exposures as of June 30, 2025, emphasizing high-relative-strength international markets.